CRDB Bank posted a net profit of 38.57bn/- from its operations during the third quarter (July-September) of this year, up from 31.25bn/- recorded at the same period last year. The bank described the performance as historic success. The bank’s cumulative profit for the nine months of this year surpassed the entire net earnings of last
Safaricom has introduced a new enhancement to M-PESA that will enable customers confirm the name of the intended recipient of funds, before completing an M-PESA transaction. ‘Hakikisha’ which has been under pilot for the last one month will be rolled out in phases with a view to covering the entire 21.7 million M-PESA customer base
Mpesa, a wildly successful payment platform contractually licensed to Safaricom, has prospered at the expense of what would have been banking services. Kenya’s banks have taken a back seat as Mpesa leads the payments market. It wasn’t always like this. Over the past decade, mobile financial services evolved, greatly benefiting from an easy to scale
Beyonic, a technology company that aims to eliminate the rampant use of cash in emerging markets, is announcing a partnership with Mobile Accord that will make Beyonic the largest mobile money aggregator in Africa. Beyonic currently operates in Uganda and Kenya, and will leverage Mobile Accord’s expertise in building mobile solutions and relationships with leading mobile
CRDB Bank has launched customer service week, a special period of year for the bank to meet and get feedback from its customers. During the event, CRDB Bank donated and handed over various medicines and other health facilities worth 15m/- to fight the outbreak of cholera in Kinondoni Municipality in Dar es Salaam. The outbreak
Kenya Commercial Bank (KCB), Eastern Africa’s oldest and largest commercial bank, and Planet Payment, Inc., a leading provider of international and multi-currency transaction services, announced an agreement to launch Pay In Your Currency (PYC), Planet Payment’s dynamic currency conversion solution. This will mark the first launch of dynamic currency conversion in the region. Pay In
Stanbic Bank Tanzania has relaunched its revamped branch in Mbeya in line with its mission to offer better services to its customers. “We are pleased to relaunch a revamped branch to the people of Mbeya,” said Ken Cockerill, the CEO of Stanbic Bank Tanzania. “This revamp is part of our broader efforts to modernize our
Emerging Markets Payments (EMP), the leading electronic payments processing company in Africa and the Middle East, and Guaranty Trust Bank (GTB) announced a processing partnership for debit and credit cards that has enabled GTBank to launch the first platinum MasterCard Credit Card in Kenya. The launch of GTBank’s Platinum card reflects demand from a growing
At a recent 3 day Commonwealth Virtual Currencies Working Group conference in London, Kenya was represented by Bitpesa, a digital currency financial service firm based in Nairobi. In the same week, Barclays UK announced it will accept bitcoin -a virtual currency – for charity donations. Late this week, US regulator CFTC officially recognized bitcoin as
KCB in conjunction with GoSwiff – a global mobile commerce and marketing solutions provider- have unveiled a strategic deal to offer a new mobile payment facility targeting Kenyan merchants. The Bank aims to upsurge its financial inclusion and cashlite agenda footprint via the use of GoSwiff’s mobile point of sale (mPOS) facility. Through a mobile
